The Woodside Energy Group Ltd (ASX: WDS) share price is outperforming on Tuesday following a disappointing start to the week for S&P/ASX 200 Index (ASX: XJO) energy stocks.
The energy giant is backing up its Monday fall with a strong performance today.
At the time of writing, the Woodside share price is $30.63, 1.42% higher than its previous close.
For comparison, the ASX 200 has gained 0.19% right now. Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) is among the market's leaders, posting a 1.56% rebound.
So, what might be going on with the ASX 200 energy monolith today? Let's take a look.
Woodside share price partially recovers on Tuesday
The Woodside share price is picking up some of its Monday losses today, joining the ASX 200 energy index in the green.
The sector tumbled a whopping 6.3% yesterday, marking its worst session in more than two years.
Meanwhile, the Woodside share price posted a 4.97% fall, sending it to a near-three-month low point.
Interestingly, the stock's partial rebound comes amid continuously falling oil prices. Global oil prices slumped around 2.5% to nine-month lows overnight.
The Brent crude oil price dumped 2.4% to trade at US$84.06 a barrel while the US Nymex crude oil price fell 2.6% to US$76.71 a barrel.
The commodity's suffering comes as the US dollar strengthens, making oil more expensive for those trading in other currencies, Reuters reports.
Still, the Woodside share price is joined in the green by those of many of its ASX 200 oil-focused peers.
Stock in Worley Ltd (ASX: WOR) is up 0.4% right now while that of Santos Ltd (ASX: STO) has gained 0.3%.
But it's not all green in the sector. The Beach Energy Ltd (ASX: BPT) share price is dragging on the market, falling 1.7% following its near-7% tumble on Monday.
